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Ingredients Market for Plant-Based Food & Beverages Size By Product (Probiotics [Lactobacilli, Bifidobacterium, Streptococcus, Bacillus] Proteins & Amino Acids [Proteins, L-Glutamate, Lysine, Methionine, Threonine, Tryptophan] Phytochemicals & plant extracts [Carotenoids, Flavonoids, Phytosterols] Prebiotics [FOS, Inulin, GOS, MOS] Specialty carbohydrates, Fatty acids [Omega 3, Omega 6, Omega 7, Omega 9] Vitamin [Vitamin A, Vitamin D, Vitamin K, Vitamin E, Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B7, Vitamin B12, Vitamin C] Minerals [Zinc, Magnesium, Calcium, Iron] Enzymes [Proteases, Lipases, Carbohydrases {Amylases, Xylanases, Cellulases, Pectinases, Lactases} Polymerases & Nucleases, Phytases, Catalyses] Fibers [Soluble and Insoluble] Food texturants[ Hydrocolloids, Emulsifiers, Stabilizers), By Application (Plant-based Milk & Derivatives, Bakery & Confectionery, Sweet & Savory Snacks, Plant-based juices, RTD Tea & Coffee, RTE & RTC Meals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Landscape & Forecast, 2023 – 2032

  • Report ID: GMI5170
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Ingredients Market for Plant-Based Food & Beverages size reached USD 2 billion in 2022 and is anticipated to witness over 15% CAGR from 2023-2032. A surge in the consumption of vitamin-based health supplements will positively influence the industry.
 

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The rising prevalence of chronic and infectious diseases has accelerated the demand for health supplements rich in vitamins such as a range of vitamin Bs, C, K, and A.  Vitamin supplements are easily available across drug stores, and grocery stores worldwide in a variety of forms such as powders, pills, capsules, and tablets. They have a promising acceptance among users due to the role played by vitamins in preventing illnesses and ensuring overall health. According to John Hopkins data, approximately 50% of the adult population in the U.S., including 70% of individuals aged 65 years and above consume vitamin-based health supplements.
 

Lack of regulatory compliance and standards to hamper industry growth

Standardization issues pertaining to the use of plant-based food and beverage ingredients could restrain ingredients market for plant-based food & beverages growth. Vegan food products are a new trend in the F&B sector and therefore lack the proper regulatory guidance associated with the standardization of raw materials. Additionally, the dearth of compliance to monitor processing methods, dosage formulation, and quality control criteria increase the scope for production and distribution of products that have not been validated by any food agencies.
 

Growing consumer awareness regarding food labeling will further encourage the deployment of relevant standards, allowing the industry to overcome standardization issues. For instance, in July 2022, the Food Safety & Standards Association of India (FSSAI) issued new regulations to control the selling of counterfeit vegan products.
 

Rising incidences of heart attacks to propel the consumption of fatty acid-based vegan F&B products

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In terms of revenue share, the demand for fatty acid ingredients for plant-based food and beverages is estimated to reach USD 6.5 billion by 2032. Increasing demand for functional food and beverages packed with fatty acids can be attributed to their potential health benefits. For instance, omega-3 fatty acids are considered to have a positive effect on cardiovascular health with the ability to reduce triglyceride levels, which are the key triggers of heart diseases. The rising prevalence of heart diseases will accelerate the consumption of fatty acid-fortified food and beverages. According to the American Heart Association report, nearly 805,000 people in the U.S. suffer from a heart attack each year.
 

Growing consumer interest in antioxidant rich RTD beverages to complement industry outlook

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Ingredients market for plant-based food & beverages share from RTE & RTC meals is anticipated to reach USD 1.5 billion by 2032. Over the last decade, the demand for ready-to-drink (RTD) tea & coffee has escalated rapidly due to growing consumer awareness regarding the harmful impact of carbonated drinks on health. Consumers are increasingly inclined towards adding value-added products to their daily diet such as antioxidant rich RTD beverages. Furthermore, industry players are ramping up efforts to introduce customized products to cater to the nutritional needs of women and children. Previously infamous ready-to-eat (RTE) meals are now being developed in more nutritionally stable and healthy forms.
 

High demand for probiotics to augment APAC ingredients market for plant-based food & beverages

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Asia Pacific ingredients market for plant-based food & beverages is projected to record over 14.5% CAGR between 2023-2032. Massive population growth and rising disposable incomes is increasing the standard of living in the developing economies of APAC. Growing health awareness is fueling the demand for probiotics in countries such as China, India, and Australia. In recent years, the region has experienced a dramatic rise in the development of advanced technologies such as microencapsulation, transforming the space of probiotics in the region. These developments are rapidly overcoming technological limitations associated with aging techniques, thus offering lucrative opportunities for manufacturers in the region.
 

Strategic alliances to complement ingredients market for plant-based food & beverages outlook

Some of the leading companies in the global ingredients industry for plant-based food & beverages include Cargill Incorporated, BASF SE, DSM NV, Archer Daniels Midland Company, DuPont Nutrition & Biosciences, Beneo GmbH, Kerry Group, Roquette Freres, Sensus B.V., Prinova Group LLC., Chr. Hansen, Golden Grain Group Limited, Foodchem International Corporation, Nutra Food Ingredients, A&B Ingredients, Ingredion, Tate & Lyle, Sugarlogix, Stratum Nutrition, Ajinomoto.
 

Impact of COVID-19 pandemic on ingredients market for plant-based food & beverages

COVID-19 pandemic introduced new challenges for plant-based food ingredient manufacturers. With increasing focus on curbing the transmission of infection, countries worldwide imposed very strict lockdown restrictions. This resulted in the shutdown of a large number of small as well as large manufacturing facilities, including food and beverage production units. Additionally, the one’s operating in a limited capacity struggled with a shortage of raw materials due to heavily disrupted supply chains.
 

Labor-intensive production facilities failed to keep up with the unmatched supply and demand ratios, as only limited number of staff could work as per government regulations. Mandated vaccination and the use of PPE in commercial and industrial setups further added to the challenges for food companies. However, growing consumer awareness associated with the importance of a healthy diet for stronger immunity and vegan trends is expected to accelerate the demand for plant-based ingredients across food & beverage manufacturers.
 

The ingredients market for plant-based food & beverages market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2018 to 2032 for the following segments:

By Product

  • Probiotics
    • Lactobacilli
    • Bifidobacterium
    • Streptococcus
    • Bacillus
    • Others
  • Proteins & Amino Acids
    • Proteins
    • L-Glutamate
    • Lysine
    • Methionine
    • Threonine
    • Tryptophan
    • Others
  • Phytochemicals & plant extracts
    • Carotenoids
    • Flavonoids
    • Phytosterols
    • Others
  • Prebiotics
    • FOS
    • Inulin
    • GOS
    • MOS
    • Others
  • Specialty carbohydrates
  • Fatty acids
    • Omega 3
    • Omega 6
    • Omega 7
    • Omega 9
  • Vitamin
    • Vitamin A
    • Vitamin D
    • Vitamin K
    • Vitamin E
    • Vitamin B1
    • Vitamin B2
    • Vitamin B3
    • Vitamin B5
    • Vitamin B6
    • Vitamin B7
    • Vitamin B12
    • Vitamin C
  • Minerals
    • Zinc
    • Magnesium
    • Calcium
    • Iron
    • Others
  • Enzymes
    • Proteases
    • Lipases
    • Carbohydrases
      • Amylases
      • Xylanases
      • Cellulases
      • Pectinases
      • Lactases
    • Polymerases & Nucleases
    • Phytases
    • Catalyses
    • Others
  • Fibers
    • Soluble
    • Insoluble
    • Total
  • Food texturants
    • Hydrocolloids
    • Emulsifiers
    • Stabilizers
    • Others

 

Authors: Kunal Ahuja, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

The global ingredients industry for plant based food & beverages reached USD 2 billion in 2022 and is anticipated to witness over 15% CAGR from 2023-2032.
In terms of revenue, fatty acid ingredients for plant-based food and beverages segment is estimated to reach USD 6.5 billion by 2032 due to rising prevalence of heart disorders.
Asia Pacific ingredients market size for plant-based food & beverages is projected to record over 14.5% CAGR between 2023-2032 driven by surging demand for probiotics.
BASF SE, DSM NV, Beneo GmbH, Kerry Group, Chr. Hansen, Ingredion, Sugarlogix, Ajinomoto are some of the major companies in the global market.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 1058
  • Countries covered: 22
  • Pages: 805
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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